1. FIELD OF THE INVENTION
This invention relates to financial document proving, inscribing, and sorting systems and more particularly to an intelligent interactive computer terminal for accomplishing financial document processing.
2. DESCRIPTION OF THE PRIOR ART
Proof inscribing is one of the major elements of magnetic ink character recognition (MICR) check processing. Data used in the processing of checks are encoded in magnetic ink on the front bottom portion of checks and other documents in accordance with specifications provided by the American Bankers Association. The magnetic ink code line consists of multiple fields including the check routing and transit number to identify the bank and Federal Reserve district, the customer's account number, a process control field usually used to distinguish among the various "on us" items belonging to the bank where the account resides, and the dollar amount field. Most of the magnetic ink fields are preencoded on the check and the dollar amount field is entered at a keyboard by a proof inscriber operator. The proof inscribing function involves keying of the total deposit amount as written on the deposit ticket and then keying the amount as listed on the individual checks within that deposit. The amounts as keyed by the operator are encoded in the MICR code line of both the deposit ticket and the individual checks. The sum of the check amounts must equal the deposit ticket amount for the deposit to be in balance. Otherwise, the operator must determine the source of error and correct the deposit.
Two major types of proof inscribers, unit inscribers and distribution inscribers, are used. A unit inscriber has only one stacker pocket and the sequence of input documents is maintained through the proof inscribing operation and into the stacker. The deposit documents are then processed on an on-line multi-pocket high speed reader sorter such as the IBM 3890 or IBM 3895. The first pass on the reader sorter provides for capture of the MICR data as well as some distribution including separation of the on-us items to be processed against accounts maintained in the processing bank from transit items to be processed against accounts at other banks. Finer distribution of these items is accomplished by subsequent passes through the reader sorter.
A distribution inscriber combines some of the functions of a proof inscriber and a reader sorter. A distribution inscriber provides a first pass sort of items prior to on-line data capture for a computer. The deposit sequence is not maintained on a distribution inscriber. Instead, an initial distribution such as separation of on-us items from transit items is made. High dollar transit items can also be separated for expediting. Pocket selection is performed by the operator who depresses a key for the selected pocket number based upon the check routing and transit number read from the check by the operator.
Recently, on-line inscribers have become available. An on-line inscriber performs the functions currently done with off-line inscribers and in addition has the capability of reading the MICR code line and storing the data on a file such as a magnetic cassette or magnetic diskette for subsequent account posting. The sort pocket selection decision of an on-line distribution describer can be automatically made by the unit based upon the routing and transit numbers read from the MICR code line.
A major drawback of the prior art financial document processing machines is that, by virtue of mechanical transport design requirements, the essential elements of feed station, keyboard and a large number of stacker pockets are not conveniently accessible to a seated operator. Additionally, in the prior art, small banks and branches of larger banks often had to forward the paper documents to larger institutions for processing due to the lack of a conveniently operable small machine capable of performing the functions of proof inscribing and reading/sorting.